DOHA: Qatar Chamber (QC), the representative body of Qatar’s private sector, hailed the unique efforts being initiated by the government to support country’s small and medium-sized enterprises (SMEs).
Addressing the opening session of QC’s first conference on SMEs here yesterday, the Chamber Chairman Sheikh Khalifa bin Jassim bin Mohamad Al Thani (pictured) lauded the government directives, enactment of laws and encouragement to entrepenuers to invest in this sector.
The government’s economic diversification programme has helped grow the local economy in line with the Qatar National Vision 2030, which envisages innovation at several sectors that would help Qatari youth to be self-reliant.
Speaking on the occasion, Rashid bin Ali Al Mansoori, CEO of Qatar Exchange (QE), said QE’s Venture Market would act as a best supporting tool for SMEs’ development in the country.
“Qatar Stock Exchange recognises the importance of the SME sector which globally provides the foundation for successful economies, contributing employment opportunities, wealth creation and increased output. Qatar Stock Exchange has therefore developed QE Venture Market with the objective of supporting the growth of SMEs and positioning Qatar Stock Exchange at the centre of the government’s on-going support for this important sector”.
Al Mansoori recalled several stories of success where SME’s could improve and develop to become giant companies playing important roles in the economies of their countries. He called for encouraging other Qatari SME’s to grow and play a similar role.
“The characteristics of the QE Venture Market reflect the objectives of allowing SMEs to list and raise capital more easily and cheaply and with less stringent requirements than would be the case on the Main Market whilst also retaining the trust of the investor base through a structured regulatory framework. Given the challenging environment for financing SMEs the need for thought-out and innovative exchange solutions for SMEs is more apparent than ever,” he added.
“We are presently working with a short-list of companies who have appointed advisors and who we hope will,subject to the approval of the regulators, form our launch candidates in the coming years.
“One area of additional interest and concrete progress has been our association with QDB in assisting the Qatari SMEs with some of the fees associated with listing. Together we offer individual candidate companies help with the fees payable to Listing Advisers of up to $ 100,000 and we encourage you to investigate this option.” Al Mansoori said.
“We are presently working with a short-list of companies who have appointed advisors and who we hope will,subject to the approval of the regulators, form our launch candidates in the coming years. One area of additional interest and concrete progress has been our association with QDB in assisting the Qatari SMEs with some of the fees associated with listing. Together we offer individual candidate companies help with the fees payable to Listing Advisors of up to $ 100,000 and we encourage you to investigate this option,” Al Mansoori added.
The Peninsula
